New Pass-Through Entity Rules

One of the most important – and complicated – changes in the new tax reform act is to tax rules affecting small businesses that are treated as “pass-through entities.”

The good news is that if you own one of these businesses you may get as much as a 20 percent reduction to the taxation of business net income under the new rules. However, calculating the actual deduction can become very complex. It depends upon several factors, including your level of income, your profession, the amount your business spends on wages and property acquired during the year.

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2018 Tax Act High Points

Congress has passed a tax reform act that will take effect in 2018, ushering in some of the most significant tax changes in three decades. There are a lot of changes in the new act, which was signed into law on Dec. 22, 2017.

You can use this memo as a high-level overview of some of the most significant items in the new act. Because major tax reform like this happens so seldom, it may be worthwhile for you to schedule a tax-planning consultation early in the year to ensure you reap the most tax savings possible during 2018.

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Xiomara Reyes
BUSINESS VALUATION TRENDS

Business evaluation experts have been practicing and evolving landscape for the past several years. New standards, changing technology, and an aging population are all playing a part in the change. What are the emerging trends that you are seeing in business development right now? I frequently see clients that are referred for evaluation work where upon talking to the client, it's not really evaluation they are looking for, and rather it’s how can they prepare themselves to potentially sell the company. While they are thinking evaluation, what they really need is advisory services.

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Exit advisors PURPOSE

Forward Results LLC is a collaborated team of professionals representing each business discipline to assist clients with the implementation and execution of a more efficient business infrastructure. Our initial focus surrounds business strategy, goals, objectives and long-term planning. Subsequently, we manage the execution process to increase the opportunity of a successful outcome.

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Donating Real Estate

We are all aware that taxpayers can benefit from both donating cash and non-cash items such as clothing, furniture, and appliances to Goodwill or The Salvation Army. But what about larger items such as real estate? What about a house?

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Tyler Gillespie
Article 1: The Planned Exit

What will you need to sell your life long investment?

You go to school many years to learn your profession.  Typically you work for several years to obtain your skills and technique.  Then the big plunge: you borrow money and go out on a limb to purchase a business or build one from the handle.  Like most mechanics in a professional function, there is a right way, and there is a wrong way.  You learn from your mistakes; some are critical.

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Tyler Gillespie
Service vs Price

Our clients need to enable us to be creative with planning, strategy, and procedures.  If we're able to have the time to truly look under the hood, we can create positive changes in your infrastructure.  If we were put in a box, it will limit our ability to assist you with the last 10% is really the differentiator. 

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Tyler Gillespie
Being Empathetic

Are you considering transferring ownership in your business to your staff, a family member or third party? I truly know how you feel.  I can be empathetic because I have experienced  transferring a business to a new 50% partner, transferring a minority share to an employee, selling a business to a third party, and actually purchasing a business from a third party.  Each transfer had a unique flavor and having someone in your court with experience in each of the situations is very important.  You are looking for the best possible outcome in a transaction where you may have no experience or this may be the one and only time you ever transfer ownership in a business you built.

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Tyler Gillespie
What is Crystal Ball Consulting

Crystal Ball Consulting encompasses the entire stream of activities necessary to allow an entrepreneur to successfully implement and execute functionality in order to grow a strong business structure that allows for future development and a well-planned succession program. We work in collaboration with trained professionals in all aspect of a business to increase our client’s success rate.

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Tyler Gillespie
STORM RECOVERY INFORMATION AND SERVICES FROM COOPER CPA GROUP

In light of the recent storm and possible damage to homes and businesses throughout Houston and the surrounding areas, Cooper CPA Group is utilizing our skills and experience to help you navigate through the complex tax and accounting tasks that may arise in the coming days.  Below we are providing a summary of important information regarding your tax filings and related tax deductible items.  We would also like to highlight select accounting and tax services that could be beneficial to you, or someone you know.  Please feel free to share this listing with anyone needing assistance on a temporary or permanent basis.

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Tyler Gillespie
We are in the communications business

We are a public accounting firm that is actually in the communication industry. When you call for an appointment, you will be greeted by a Cooper CPA team member who has superior customer service experience.  She will typically be able to answer many questions related to our service offerings and related prices. 

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Tyler Gillespie